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Trump Floats TikTok Stake Using Newly Ordered Sovereign Wealth Fund
President Donald Trump proposed buying a stake in TikTok using a newly ordered U.S. sovereign wealth fund.
President Donald Trump on Monday signed an executive order directing the U.S. to take steps to start developing a government-owned investment fund that he said could be used to profit off of TikTok if he’s successful at finding it an American buyer. Trump signed an order on his first day office to grant TikTok until early April to find an approved partner or buyer, but he’s said he’s looking for the U.S. to take a 50% stake in the massive social media platform. Former President Joe Biden’s administration had studied the possibility of creating a sovereign wealth fund for national security investments, but the idea did not yield any concrete action before he left office last month.
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